AB, Dec. 5, 2022 /CNW/ - Advantage Energy
Ltd. ("Advantage" or the "Corporation") announces that, in
connection with the Corporation's ongoing substantial issuer bid
(the "Offer"), the Alberta Securities Commission (the "ASC") has
granted an order (the "Relief Order") permitting Advantage to
extend the Offer, in certain circumstances, without first taking up
any common shares ("Shares") previously deposited under the Offer.
Under applicable securities laws, the Offer could not be extended
in such circumstances without the Relief Order.
At this time, Advantage has not yet determined if it will extend
the Offer, and the expiration of the Offer remains as 5:00 PM (Eastern Standard Time) on December 16, 2022 (the "Expiration Date").
Pursuant to the Relief Order, Advantage may not extend the Offer in
the event that the terms and conditions of the Offer have been
complied with or waived by Advantage by the Expiration Date and the
aggregate purchase price for the Shares validly tendered and not
withdrawn is equal to or greater than $100,000,000. In the event the Offer is extended,
the Corporation will provide a further news release disclosing the
details of such extension.
Further details regarding the Offer, including instructions for
tendering Shares, are provided in the Corporation's issuer bid
circular dated November 10, 2022, the
letter of transmittal and the notice of guaranteed delivery mailed
on November 10, 2022 (collectively,
the "Offer Documents"). The Offer Documents are available on SEDAR
at www.sedar.com, as well as on the Corporation's website at
www.advantageog.com. Shareholders should carefully read the Offer
Documents prior to making a decision with respect to the Offer.
None of Advantage, its Board of Directors, the dealer manager or
the depositary makes any recommendation to any holder of Shares
("Shareholder") as to whether to deposit or refrain from depositing
Shares under the Offer, how many Shares to deposit and whether to
specify a price and, if so, at what price to deposit such
Shares. Shareholders are urged to evaluate carefully all
information in the Offer Documents, consult their own financial,
legal, investment and tax advisors and make their own decisions
about whether to deposit Shares under the Offer, how many Shares to
deposit and whether to specify a price and, if so, at what price to
deposit such Shares.
This press release is for informational purposes only and does
not constitute an offer to buy or the solicitation of an offer to
sell Shares. The Offer to buy the Shares was made pursuant to the
Offer Documents filed with the applicable securities regulators in
Canada. Advantage has retained RBC
Dominion Securities Inc. to act as financial advisor and dealer
manager in connection with the Offer and Computershare Investor
Services Inc. ("Computershare") to act as depositary. Any
questions or requests for information may be directed to
Computershare at 1 (800) 564-6253 (Toll-Free within North America) or 1 (514) 982-7555 (outside
North America) or to RBC Dominion
Securities Inc. as dealer manager for the Offer at
SOURCE Advantage Energy Ltd.